PC World Elite Mastercard

PC World Elite Mastercard

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CIBC Costco Mastercard

CIBC Costco Mastercard

Apply Now

PC World Elite Mastercard vs CIBC Costco Mastercard: Which one is better?


PC World Elite Mastercard

PC World Elite Mastercard

3.1


RECOMMENDED CREDIT SCORE

300
Poor
560
Fair
660
Good
725
Very Good
760
Excellent

CIBC Costco Mastercard

CIBC Costco Mastercard

3


RECOMMENDED CREDIT SCORE

300
Poor
560
Fair
660
Good
725
Very Good
760
Excellent

Rewards Breakdown

Annual Rewards

$266

PC Financial


First Year Bonus

$100

PC Financial


Annual Fee

$0


First Year Value

$366

$266 in years after

Based on $2,000/mo average spending. Calculate your rewards.

Rewards Breakdown

Annual Rewards

$347.33


First Year Bonus

$0


Annual Fee

$0


First Year Value

$347.33

Based on $2,000/mo average spending. Calculate your rewards.

Insurance Included

  • extended warranty

    Extended Warranty

    Doubled up to a year
  • purchase protection

    Purchase Protection

    90 days

  • car insurance

    Car Rental Damage & Theft

    Up to 31 days
  • travel accident medical

    Emergency Out of province Medical

    $1M, Up to 10 days

Insurance Included

  • extended warranty

    Extended Warranty

    Up to a year
  • purchase protection

    Purchase Protection

    Up to 90 days

  • mobile device insurance

    Mobile Device Insurance

    $1000

Extra Benefits

  • concierge

    Concierge Services

  • shield user

    Identity Theft Assistance

Extra Benefits

N/A

Interest Rates

Purchase:

21.99%

Cash Advance:

22.97%

Interest Rates

Purchase:

20.75%

Cash Advance:

22.49%

Annual Fee

$0

Annual Fee

$0

Income Required

Min Personal Income:

$80,000

Min Household Income:

$150,000

Income Required

Min Personal Income:

$15,000

Min Household Income:

N/A

Welcome Bonus

100,000 PC after approval of the application

Welcome Bonus

N/A

Rewards Rate

45 points per $1 dollar spent at Shoppers Drug Mart® stores
30 points per $1 dollar spent at Atlantic Superstore, Extra Foods, Fortinos, Loblaws, Maxi, Maxi & cie, no frills, Provigo, Real Canadian Superstore, SaveEasy, SuperValu, valu-mart, Your Independent Grocer, Zehrs
20 points per $1 spent in PC travel
19 points per $1 dollar spent at ESSO and Mobil (it's 30 points per liter and the assumption of average gas price of $1.6 was made)
10 points per $1 dollar spent for everything else

Rewards Rate

  • 3% cash back on Restaurants and Costco Gas
  • 2% cash back on Costco.ca purchases (Max $160 yearly)
  • 2% cash back on Gas (Max $100 yearly)
  • 1% on everything else

Loyalty Program

Loyalty Program

N/A

Point Redemption Options

  • groceries

    Groceries

    0.1¢ / point
  • gas station

    Gas (Esso)

    0.1¢ / point

Point Redemption Options

Not Applicable

Is this card worth it?

This is a great card to have in your arsenal if you frequently shop at Shoppers Drug Mart®, Loblaw's owned chains, and ESSO and Mobil gas stations, as you will earn significant rewards in these categories. The additional benefits, such as out-of-province medical insurance, car rental damage insurance, and concierge service, are impressive and typically only come with cards that have annual fees; however, you can access these benefits for free with this card. We do not recommend using this as your primary credit card but as a supplement to another primary card, especially because there are no fees. This is because the rewards on purchases outside the mentioned shops are very average, and many other cards offer much more substantial rewards for general use.

Is this card worth it?

The CIBC Costco Mastercard offers one of the highest cashback rates on restaurant purchases in Canada, making it an excellent choice for optimizing rewards in this specific category, especially since it has no annual fees. If you use Costco Gas or shop on Costco Online, there is a decent cashback rate as well. However, for other categories, the cashback rate is average. Notably, you will be better off using other credit cards for warehouse Costco purchases, as you will only earn 1% cashback. If you are looking for no annual fee credit cards only, this is a good card to go for.

Pros

  • Out-of-province medical insurance, concierge service, and car rental damage insurance—benefits that are usually included with cards that have fees—are included with this card.
  • Decent rewards on purchases at Shoppers Drug Mart®, Loblaw's owned chains, and ESSO and Mobil gas stations.

Pros

  • Decent reward rate for a no annual fee credit card
  • One of the highest cashback rates for restaurant purchases in Canada
  • Has Mobile insurance

Cons

  • Many other high-spend categories don't earn as many rewards. Shopping at any other grocery chains, gas stations, or pharmacies will only give the base reward rate, and restaurant purchases and purchases in other categories don't earn much either.

Cons

  • Doesn't come with a lot of benefits
  • Doesn't earn much on Costco Warehouse purchases!

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